Aston Asset Management, which is in the process of becoming part of Affiliated Managers Group, has rolled out a small-cap fund sub-advised by fellow Chicagoan Fasciano Associates. The Aston/Fasciano Small Cap Fund, launched on December 23, is Aston's 25th offering. The fund has an expense ratio of 142 basis points.

"The industry is always in need of a good new small cap fund manager," said Joe Hayes, who was recently promoted to the post of national sales manager at Aston, in an interview.

Aston has closed two small caps, the Aston/TAMRO Small Cap Fund and Aston/River Road Small Cap Value Fund, in the past year, and the new fund will round-out the firm's line up, Hays added.

While there are no specifics yet, be assured that Aston is thinking about its next fund.

"Strategically, we're adding one to two managers a year," Hays noted. "We hope to continue to grow as fast as we did last year."

According to the SEC filing, Aston administers the fund, and PNC Global Investment Servicing subadministers and acts as the transfer agent. Vedder Price P.C. serves as legal counsel.  

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